Report: Rays in 'advanced talks' to sell team

Tampa Bay Rays main proprietor Stu Sternberg is successful "advanced talks" to merchantability the franchise to a radical led by a Florida-based residential developer.

Patrick Zalupski, a location builder successful Jacksonville, has been identified arsenic the imaginable pb purchaser successful a woody that values the squad astatine astir $1.7 billion. He already has executed a missive of intent to acquisition the team, per Sportico.

Sternberg bought the Rays successful 2004 for $200 million. Sportico archetypal reported the talks.

The squad acknowledged the discussions successful a statement, saying "The Tampa Bay Rays announced that the squad has precocious commenced exclusive discussions with a radical led by Patrick Zalupski, Bill Cosgrove, Ken Babby and salient Tampa Bay investors concerning a imaginable merchantability of the team. Neither the Rays nor the radical volition person further remark during the discussions."

A twelvemonth ago, Sternberg had a woody successful spot to physique a caller stadium successful the Historic Gas Plant District, a reimagined recreational, retail and residential territory successful St. Petersburg to regenerate Tropicana Field. However, aft Hurricane Milton shredded the extortion of the stadium past October, forcing the Rays into impermanent quarters, Sternberg's committedness has been little than resolute, saying the squad would person to carnivore excess costs that were not successful the budget.

In March, MLB commissioner Rob Manfred and immoderate different owners began to privately propulsion Sternberg to merchantability the franchise, The Athletic reported.

Zalupski is the president and CEO of Dream Finders Homes, founded successful December 2008. He besides is simply a subordinate of the committee of trustees astatine the University of Florida.

It is unclear what Zalupski's group, if it yet goes done with the acquisition and is approved by MLB owners, would bash for a imperishable stadium.

The Rays are presently playing astatine George M. Steinbrenner Field successful Tampa, located astatine the tract of the New York Yankees' outpouring grooming installation and location of their Single-A Tampa Tarpons.